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'NO. R-1 <br /> <br />(FORM OF BOND) <br /> <br /> UNITED STATES OF AMERICA <br /> COMMONWEALTH OF VIRGINIA <br /> CITY OF MARTINSVILLE <br />School Bond, Series of 1991A <br /> <br />EXHIBIT A <br /> <br />$438,631 <br /> <br /> CITY OF MARTINSVILLE, VIRGINIA (the "City"), for value <br /> received, hereby acknowledges itself indebted and promises to pay <br /> to the VIRGINIA PUBLIC SCHOOL AUTHORITY the principal amount of <br /> FOUR HUNDRED THIRTY-EIGHT THOUSAND SIX HUNDRED THIRTY-ONE DOLLARS <br /> ($438,631) in annual installments in the amounts set forth on <br />~:'Sched~le~'~'==~ttached hereto, payable onJuly 15, 1992, and ..... <br /> annually on July 15 thereafter to~andincluding July 15, 2011 <br /> (each a "Principal Payment Date"), together with interest from <br /> the date of this Bond on the unpaid principal and, to the extent <br /> permitted by law, any overdue interest, payable semiannually on <br /> each January 15 and July 15, commencing January 15, 1992 (each an <br /> "Interest Payment Date"; together with any Principal Payment <br /> Date, a "Payment Date"), atthe rates per annum set forth on <br /> Schedule I attached hereto. Both principal of and interest on <br /> this Bond are payable in lawful money ofthe United States of <br /> America. <br /> <br /> For as long as the Virginia Public School Authority is the. <br />registered. owner of this Bond, CrestarBank, Richmond, Virginia, <br />as Bond Registrar, shall make all payments of principal of and <br />interest on this Bond, without the presentation or surrender <br />hereof, to the Virginia Public School Authority, in immediately <br />available funds at or before 11:00 a.m. on the applicable Payment <br />Date. If a Payment Date is not a business day for banks in the <br />Commonwealth of Virginia or for the Commonwealth of Virginia, <br />then the payment of principal!of or interest on this Bond shall <br />be made in immediately available fundsat or before 11:00 a.m. on <br />the business day next preceding the scheduled Payment Date. Upon <br />receipt by the registered owner of this Bond of said payments of <br />principal and interest, written acknowledgement of the receipt <br />thereof shall be given promptly to the Bond Registrar, and the <br />City shall be fully discharged ofitsobligation on this Bond to <br />the extent of the payment so made. Upon final payment, this Bond <br />shall be surrendered to the Bond'Registrar for cancellation. <br /> <br /> The full faith and credit of the City are irrevocably <br />pledged for the payment of principal of and interest on this <br />Bond. <br /> <br />A-1 <br /> <br /> <br />